Docusign (NASDAQ:DOCU) CEO Sells $1,818,862.50 in Stock

Docusign Inc. (NASDAQ:DOCU – Get Free Report) CEO Allan Thygesen sold 26,250 shares of the stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $69.29, for a total transaction of $1,818,862.50. Following the completion of the sale, the chief executive officer owned 166,801 shares in the company, valued at $11,557,641.29. The trade was a 13.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Docusign Price Performance

NASDAQ DOCU opened at $69.01 on Monday. The company has a market capitalization of $12.90 billion, a PE ratio of 42.08, a P/E/G ratio of 2.56 and a beta of 0.86. The company has a fifty day moving average of $63.52 and a 200 day moving average of $53.02. Docusign Inc. has a 1 year low of $40.16 and a 1 year high of $75.00.

Docusign (NASDAQ:DOCU – Get Free Report) last posted its quarterly earnings results on Thursday, September 3rd. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.09 by $0.07. The company had revenue of $875.75 million for the quarter, compared to analyst estimates of $867.22 million. Docusign had a net margin of 9.82% and a return on equity of 18.29%. The firm’s revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.30 earnings per share. Research analysts expect that Docusign Inc. will post 2.13 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in DOCU. BlackRock Inc. acquired a new position in Docusign during the second quarter worth $927,059,000. Capital World Investors grew its position in shares of Docusign by 38.1% in the fourth quarter. Capital World Investors now owns 5,815,804 shares of the company’s stock valued at $397,801,000 after purchasing an additional 1,603,900 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Docusign by 76.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 5,285,128 shares of the company’s stock valued at $250,568,000 after purchasing an additional 2,283,996 shares during the period. Renaissance Technologies LLC increased its stake in shares of Docusign by 4.0% during the first quarter. Renaissance Technologies LLC now owns 3,170,061 shares of the company’s stock worth $150,293,000 after purchasing an additional 123,100 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Docusign during the fourth quarter worth about $186,795,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on DOCU. UBS Group lifted their price target on Docusign from $54.00 to $70.00 and gave the company a “neutral” rating in a research report on Friday, September 4th. Needham & Company LLC restated a “hold” rating on shares of Docusign in a research report on Friday, September 4th. Bank of America raised their price objective on shares of Docusign from $58.00 to $64.00 and gave the stock an “underperform” rating in a research note on Friday, September 4th. Royal Bank Of Canada lifted their target price on shares of Docusign from $55.00 to $70.00 and gave the company a “sector perform” rating in a report on Friday, September 4th. Finally, Wall Street Zen cut shares of Docusign from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 2nd. Three analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $67.33.

Get Our Latest Analysis on DOCU

About Docusign

(Get Free Report)

DocuSign, Inc (NASDAQ:DOCU) provides cloud-based software for electronically signing, managing and automating agreements. Its platform enables individuals and organizations to prepare, send, sign, track and store documents digitally, helping replace paper-based contracting processes.

The company’s offerings include electronic signature tools, contract lifecycle management, identity verification and authentication services, document generation, agreement analytics and related workflow automation capabilities.

Further Reading

Insider Buying and Selling by Quarter for Docusign (NASDAQ:DOCU)

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